- Key Points
- Treasury Secretary Scott Bessent said that U.S.-China trade talks in Geneva over the weekend were “productive.”
- He said he would give more details in a complete briefing on Monday morning.
- Bessent added that President Trump is “fully informed” about the discussions.
U.S. Treasury Secretary Scott Bessent testifies before a House Financial Services Committee hearing entitled “The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System,” on Capitol Hill in Washington, D.C., U.S., May 7, 2025.
Nathan Howard | Reuters
Sunday, Treasury Secretary Scott Bessent said that the weekend’s alternate talks in Geneva with Chinese officials were “effective.” He stated the talks yielded “an exquisite deal” of productivity and that he might supply more information in a full briefing on Monday morning.
Bessent added that he and America Trade Representative Jamieson Greer both spoke to President Donald Trump on Saturday night and “he’s fully informed” about the discussions.
Bessent stated that he and Greer met with the vice most excellent of China, further to two vice ministers, who the treasury secretary referred to as “integrally involved” in discussions.
During his remarks on Sunday, Greer said that the officials had come to some form of a “deal,” but he did not offer any specifics. “It’s crucial to comprehend how quickly we were capable of agree, which reflects that possibly the variations have been now not been so huge as perhaps notion,” Greer said.
“We’re assured that the deal we struck with our Chinese partners will assist us in painting toward resolving that country-wide emergency,” he added.
This weekend’s high-stakes negotiations in Switzerland take place amid sizable financial uncertainty introduced by the trade conflict between America and China. Since Trump introduced tariffs of one hundred forty-five percent on Beijing, the two international locations have engaged in a tariff war. China responded by increasing its responsibilities on American items by 125%. The standoff has roiled the financial markets and sparked concerns of fewer items and rising costs for purchasers.
Trump praised the primary day of discussions, writing that the U.S. Officials had a “very good assembly these days with China” in a Saturday Truth Social submit.
“Many matters discussed, a good deal agreed to. Trump wrote, “A total reset negotiated in a friendly, however optimistic way